About Burnet Realty LLC

Realogy Holdings (formerly Domus Holdings) has the goods for domestic bliss for a lot of people. It is the largest franchisor of residential real estate offices in the world with about 13,600 offices in more than 110 countries. Its brands include Century 21, Coldwell Banker, ERA, Better Homes and Gardens Real Estate, and Sotheby's. In addition to franchising, the company owns and operates about 700 offices under the already mentioned brands along with the Corcoran Group and Citi Habitats labels. It also provides relocation, title, and settlement services, and mortgages.


Realogy boasts the world's largest residential real estate brokerage business (under its subsidiary NRT LLC) and the world's largest residential real estate brokerage franchising business (under RFG), offering a large portfolio of well-known brands. Its company-owned brokerage operates under the Coldwell Banker, Corcoran Group, Sotheby's International Realty, ZipRealty, and Citi Habitats brand names. Its franchise brands include: Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby's International Realty, and Better Homes and Gardens Real Estate.

The company got nearly 72% of its revenue from its company-owned real estate brokerage services in 2015, while 13% came from its real estate franchise services, and 8% came from title and settlement services under the company's Title Resource Group subsidiary.

In addition to its company-owned and franchised real estate brokerages, Realogy is a leading provider of employee relocation services in the US and internationally, serving nearly two-thirds of the Fortune 50 companies. The company's relocation services business, Cartus, generated 7% of all revenue in 2014.

Geographic Reach

The US accounts for 98% of New Jersey-based Realogy's revenue. The company's relocation services business is active in the US, Canada, Europe, and Asia.

Sales and Marketing

The company's Title and Settlement Services provide closing and escrow services to customers and real estate companies, including the company-owned real estate brokerage and relocation services businesses, as well as a targeted list of large financial institution clients, including PHH Corporation.

Realogy's company-owned brokerage offices staffed some 47,000 independent sales agents in more than 50 of the 100 largest US metropolitan areas in 2015. It spent about $194 million on advertising during the year, up from $188 million in 2014.

Financial Performance

Realogy's business has been steadily growing in tandem with the strengthening US housing market for the past several years. Revenue in 2017 rose 7% higher to $5.7 billion from of revenue provided by the acquisitions of ZipRealty and Coldwell Banker United as well as organic growth. The 5% increase in average homesale sprice boosted revenue from the Real Estate Franchise Services divisions.

Net income rebounded in 2015 with a 29% gain from 2014, when the company was hit by income tax provisions. Without the income tax expenses and higher revenue 2015 net income reached $184 million.

Higher earnings helped raise cash flow from operations to $544 million in 2015 from $423 million in 2014.


With the housing market improving in recent years, Realogy is growing its real estate brokerage operations through strategic acquisitions. Less than a year after purchasing ZipRealty in mid-2014, the company announced that it would begin rolling out ZipRealty's tech-savvy platforms to certain franchisees as well as their independent sales associates and their customers. Realogy believes the new tools offer tremendous value proposition to customers and should boost sales in the years ahead.

Beyond large company acquisitions, Realogy likes to purchase local real estate brokerages to expand its reach into communities. In 2015, the company acquired 13 real estate brokerage-related operations, including a large franchisee of the Real Estate Franchise segment, for $96 million. It added two real estate brokerage related operations in 2016 through its wholly owned subsidiary, NRT, for $13 million.

Mergers and Acquisitions

In 2015, Realogy acquired Coldwell Banker United, Realtors in the active markets of Texas, Florida, North Carolina, and South Carolina. Coldwell brings 60 offices staffed by 2,000 affiliated sales associates to Realogy. It will continue to operate under the Coldwell Banker brand.

In 2014, Realogy Holdings acquired California-based ZipRealty, a national real estate brokerage and provider of technology and comprehensive online marketing tools to the residential real estate brokerage industry, for $6.75 per share in an all-cash deal valued at $166 million. ZipRealty operates 23 offices in 19 markets across the US.

Company Background

Realogy in October 2012 raised $1 billion in its IPO, a vote of confidence of sorts in the recovery of the residential real estate market in the US. Realogy used the IPO proceeds to reduce its more than $7 billion in debt. Despite losing $540 million in the two years prior to its IPO, the firm believed the real estate market was poised for recovery. Its strategy included growing all segments of its business though it offered no specifics on that front. The company's name changed from Domus to Realogy in 2012.

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Company News and Press Releases

Burnet Realty LLC

7550 France Ave S Ste 300
Minneapolis, MN 55435-4765
Phone: 1 (952) 844-6400
Fax: 1 (952) 844-6578


  • Employer Type: Public
  • Chb: Ralph W Burnet
  • Vice President Sales Administration: Tom Rehman
  • Chief Executive Officer; Administration: Joseph Reis
  • Employees: 500

Major Office Locations

  • Minneapolis, MN